OFSI issues new FAQ 205

OFSI has published a new FAQ 205 explaining what happens to specific licences when a designated person is delisted. The FAQ confirms that, once a designated person is delisted, UK financial sanctions no longer apply to that person or entity and any specific licences relating solely to them are no longer required. It also explains how OFSI will treat pending licence applications and what happens if a person or entity is subsequently re-listed.